Customer service representatives who have lost their jobs as a result of call centers being outsourced to India are an example of
A) structural unemployment. B) voluntary unemployment.
C) frictional unemployment. D) cyclical unemployment.
A
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When a banker records how many dollars each of his borrowers owes the bank, money is serving as a
A. store of value. B. medium of exchange. C. legal tender. D. unit of account.
You lose your job and as a result your demand for steak falls. This implies that you consider steaks to be a
a. Complementary good b. Normal good c. Inferior good d. Substitute good
If price rises, what happens to demand for a product?
a. It increases. b. It decreases. c. It does not change. d. Uncertain-economic theory has no answer to this question.
An attempt to lower unemployment with demand-side stimulus policies will cause an increase in the price level, which is illustrated by
A. A rightward shift of the aggregate demand curve. B. A rightward shift of the aggregate supply curve. C. A leftward shift of the aggregate demand curve. D. A leftward shift of the Phillips curve.